Israeli Finance Minister Orders New Measures to Lower Fuel Prices
Translated & summarized from NEWSru Israel by baba
Israeli Finance Minister Bezalel Smotrich has ordered the Ministry of Finance to develop new subsidies to lower gasoline prices, following a previous tax cut that temporarily stabilized fuel costs.
The story in 4 lines · by baba
- Finance Minister Smotrich ordered new fuel subsidy measures.
- Ministry specialists will determine subsidy mechanism and amount.
- Previous 50 agorot excise tax cut lowered gas prices.
- New measures are needed due to expected further price hikes.
Israeli Finance Minister Bezalel Smotrich has instructed the Ministry of Finance to prepare new measures aimed at further subsidizing gasoline prices. The directive, reported by Channel 14, tasks ministry specialists with determining the mechanism and amount of a subsidy intended to curb rising fuel costs.
This initiative follows a previous action in early September, when Smotrich ordered a 50 agorot per liter reduction in fuel excise tax. This tax cut was implemented after the maximum price for 95-octane gasoline reached 8.25 shekels per liter, bringing the price down to 7.75 shekels.
The need for additional measures arises from expectations of another fuel price increase. Channel 14 reported that rising costs in other components of the fuel price could lead to a significant hike, even with the existing excise tax reduction.
